HBT Financial announces annual meeting results

HBT Financial, Inc. (NASDAQ:HBT), a $760 million market cap regional bank with a "GREAT" InvestingPro Financial Health score of 3.05 out of 4, disclosed the outcomes of its Annual Meeting of Stockholders held on May 20, 2025, in a recent SEC filing. The stockholders voted on several key proposals, including the election of directors, executive compensation, and the appointment of an independent registered public accounting firm. The meeting comes as the company maintains a solid dividend yield of 3.48% and has raised its dividend for three consecutive years, according to InvestingPro data.

In the election of directors, all nominees were successfully elected to serve until the 2026 Annual Meeting of Stockholders. The detailed voting results showed significant support for each director, with votes for ranging from approximately 25.5 million to 27.3 million, votes withheld between 54,578 and 1.9 million, and broker non-votes consistently around 2.6 million for all nominees.

The advisory vote on executive compensation, also known as "say on pay," was approved by shareholders. The compensation of the company’s named executive officers received 27,023,829 votes for, 334,840 against, and 21,108 abstentions, alongside 2,622,754 broker non-votes.

Additionally, stockholders expressed their preference for holding future "say on pay" votes annually. This non-binding advisory vote garnered strong support for the 1-year frequency option with over 26.6 million votes, while the 2-year and 3-year options received significantly fewer votes.

The final proposal, concerning the ratification of RSM US LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with an overwhelming majority of 29,981,610 votes for, 13,423 against, and 7,498 abstentions.

These results affirm the company’s existing governance and executive compensation practices, with the board of directors’ recommendations largely followed by the shareholders. The company expects to continue annual advisory votes on executive compensation until the next required vote in 2031.

The filing, which provides a comprehensive overview of the voting outcomes, is based on a press release statement and reflects the shareholders’ confidence in the company’s leadership and financial oversight.

In other recent news, HBT Financial, Inc. announced a quarterly cash dividend of $0.21 per share on its common stock, scheduled for payment on May 13, 2025, to shareholders of record as of May 6, 2025. This dividend declaration is part of the company’s regular financial activities and is detailed in its latest filing with the Securities and Exchange Commission. Dividends are typically a way for companies to distribute a portion of their earnings back to shareholders, often indicating financial health and confidence in future earnings. Meanwhile, DA Davidson analysts have adjusted their outlook on HBT Financial, lowering the stock price target to $23 from $24, while maintaining a Neutral rating. The analysts noted improvements in the bank’s core net interest margin, which exceeded initial expectations. However, growth expectations for HBT Financial have been tempered, prompting the revised price target. The bank’s effective control over credit quality and costs, along with its strategic focus on potential buybacks and mergers, is expected to contribute to sustained above-average profitability.

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